Customer Data Platforms are designed for the new realities of retail. Nick Kramer was quoted in Retail TouchPoints article “The Ultimate Guide to CDPs” about the potential impact CDPs could have on the industry.
Nick describes what CDPs can do for companies, “The fundamental purpose of a CDP is to capture every [consumer] touch point, but also understand those touch points. CDPs also need to rapidly integrate third-party data from credit card companies and companies selling behavioral and demographic data. That means the CDP must deal with issues of data quality, data mapping and completeness.”
He continues, “A CDP is about understanding how your customer behaves in all the touch points with your brand, as well as as much of their behaviors that you can capture outside of your brand. The combination of first- and third-party data makes [the CDPs’ role] more expansive.”
Read the full article here.
